Compugen to be Listed on the Tel Aviv Stock Exchange

Tel Aviv, Israel - December 26, 2001 - Compugen Ltd. (NASDAQ: CGEN) today announced that it has obtained approval to list its shares for trading on the Tel Aviv Stock Exchange (TASE). Shares will begin trading on January 7, 2002.

The dual listing will enable Israeli and international investors, who currently do not trade shares in the U.S. because of various restrictions, costs or time differences, to trade in Compugen stock. Advantages of a dual listing include a longer trading day and access to the lower trading costs on the Tel Aviv Continuous Trading (TACT) system.

"We are honored to be the first biotechnology company to be traded on the Tel Aviv Stock Exchange. This reflects the recent growth of the biotechnology industry in Israel which is an indication of the significant market potential of this field," said Mor Amitai, Ph.D., president and chief executive officer, Compugen.

"Dual listing will enable institutional investors who trade specifically in stock                         listed on the Tel Aviv Stock Exchange to invest in an Israeli listed company that                              is an industry leader in the merging of computational technologies with biology and medicine. Dual listing gives the Israeli financial market direct access to leading Israeli companies such as Compugen," added Nurit Benjamini, chief financial officer, Compugen.

                                  
About Compugen
Compugen (NASDAQ: CGEN) is a leader in merging computational technologies with biology and medicine to enhance drug discovery and development. The Company's innovative predictive biology technologies support two complementary product development and commercialization divisions. Compugen's BioApplications division offers high value products and services that enable and enhance the discovery and functional analysis of genes, proteins and cell processes. Compugen's Novel Genomics division is developing human therapeutic and diagnostic products based on target genes, proteins and other intellectual property discovered through the Company's innovative research activities. For additional information, please visit Compugen's Corporate Web Site at http://www.cgen.com/ and the Company's Internet research engine for molecular biologists, www.LabOnWeb.com.





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